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Those who are self-employed can establish a SEP (simplified employee pension plan) IRA. Both unincorporated sole proprietors and incorporated small business owners can establish a SEP IRA. The maximum contribution for 2011 is 25% of compensation up to a maximum of 49,000 dollars.

You can choose one of the 10 best retirement plans that suits your retirement objectives. Pension plans prove beneficial for those who do not have a guaranteed income. The Roth 401(k) is another retirement plan which is totally free form taxation. Employees can invest up to $18000. Large corporations offer 401(k) plans and these accounts are genera

If you make withdrawals before you reach age 59 ½ , you will be required to pay Uncle Sam a 10% early withdrawal penalty as well as regular income tax on your investment earnings. (The amount you contributed to the annuity will not be not taxed.)

There are seven states - Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming, where there is no tax on personal income. New Hampshire and Tennessee only collect taxes on interest and dividend incomes. In 36 states around the country, retirees are allowed to exclude all or part of their retirement income from their taxable income.

Each company has their own set of policies regarding their retirement investment plans, such as defined benefit pension, 401(k), ROTH 401(k), 403(b), 457, SIMPLE, and SEP plans. Each of these is a distinct type of plans and the investment and tax-option vary. However, with the use of the full retirement age chart for your future, you can easily sta

Options for Your Annuity. If your annuity no longer fits your needs, you don't have to feel trapped. You can sell your annuity payments for a lump sum, to free up your cash and use that money for current expenses or for reinvesting.